Form 4: SouthState Corp Director Acquires Shares in Lieu of Cash Retainer
SEC Form 4 Filing
Page G. Ruffner Jr., a director of SouthState Corp, acquired 287 shares of common stock in lieu of a quarterly cash retainer payment on August 12, 2024.
Summary
- On August 12, 2024, Page G. Ruffner Jr., a director of SouthState Corp, acquired 287 shares of common stock.
- The acquisition was made in lieu of a quarterly cash retainer payment.
- The price per share was $87.13.
- Following the transaction, Ruffner directly owns 77,469 shares of SouthState Corp.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine transaction related to director compensation. The director taking shares instead of cash is a slightly positive signal.
Positives
- The director's decision to take shares in lieu of cash may signal confidence in the company's future prospects.
Industry Context
Directors often receive equity as part of their compensation, aligning their interests with those of shareholders. This is a common practice in the financial services industry.
Related Party Transactions
- The acquisition of shares in lieu of a cash retainer payment is a related party transaction.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It may slightly increase shareholder confidence due to the director's increased equity stake.
Key Dates
| Date | Description |
|---|---|
| 08/12/2024 | Date of transaction: acquisition of 287 shares of common stock. |
| 08/13/2024 | Date of signature on the Form 4 filing. |
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